NextGen Day

MANILA – The Securities and Exchange Commission (SEC) has ordered Astrazion Noble Task Community Foundation, Astrazion Global Holdings Philippines Inc., and Astrazion International to stop selling their alleged digital currency via an illegal multi-level marketing platform.

The SEC en banc ordered the Astrazion Group to cease and desist from engaging in the unlawful/unauthorized solicitation, offer, and/or sale of securities until it has filed the required registration statement and received the appropriate approval from the SEC in an order dated May 12.

The Astrazion Group, its operators, directors, and officers, including Napoleon dela Cruz Visperas, Remus Pedroso Salgado, Joan Ganancial, Rolando Cadelario Oso, Francisco Gadayan Baladjay Jr., Pierre Martin Reyes, Esther Weigand, and Carol Joy Balbuena Visperas, as well as its representatives, salesmen, agents, uplines, influencers, and enablers, such as Christopher “To

To protect the preservation of the investors’ assets, the firms and their directors have also been forbidden from transacting any transaction involving funds in their depository banks, as well as transferring, disposing, or conveying any associated assets.

The cease and desist order was issued when the SEC Enforcement and Investor Protection Department discovered that the Astrazion Group was using an online multi-level marketing platform to actively promote the sale of their digital currency, AZNT Token, for ten cents per token.

The firm was discovered to be providing seven packages with a guaranteed daily profit of 3%. From a $10,000 initial investment, the beginner package might yield $300 in 100 days, while the double-platinum package promises $30,000 in the same time frame.

The Astrazion Group persuaded the public to invest by promising that the AZNT Tokens would be registered as a cryptocurrency at Coin Market Cap and traded on the Binance digital currency trading platform.

The value of the AZNT coin might reportedly grow to $10 from its current price of 10 cents.

Astrazion Group guaranteed investors a residual income and direct referral income distribution in addition to a potential increase in the value of the AZNT Token. The Coins.ph mobile app will subsequently be used to distribute payouts.

According to the SEC, the scheme entails selling and offering securities to the public in the form of investment contracts, in which a person invests his money in a shared venture and is led to expect gains solely from the efforts of others.

The order stated, “(T)he Commission agrees with the EIPD’s finding, and so holds that the Astrazion Group is involved in the sale and/or offer of securities in the form of investment contracts in violation of Section 8 of the (Revised Corporation Code) since it lacks a license to do so.”

Section 8 of Republic Act No. 8799, often known as the Securities Regulation Code (SRC), states that securities may not be sold, offered for sale, or distributed in the Philippines without first being registered with the Securities and Exchange Commission (SEC).

The corporations Astrazion Global and Astrazion Foundation are officially registered with the Commission.

They have, however, never obtained a secondary license from the commission as a securities issuer or broker-dealer, nor have they ever registered any securities for public offering under the SRC.

Meanwhile, Astrazion International is not registered as a company, partnership, or one-person corporation with the Securities and Exchange Commission.

The Securities and Exchange Commission (SEC) warned the public against investing in the Astrazion Group and related organizations as early as February 3, 2022.

“The Commission determines that the Astrazion Group is deceiving the investing public by selling/offering AZNT Token and guaranteeing a guaranteed return of 3% daily,” the commission en banc concluded.

“Mr. Visperas’ statement that the payouts received by current Astrazion Group members are a blessing from the Lord and a foretaste of what is to come has all the more unmasked the true nature of Astrazion Group’s operation, i.e. an investment scam that the commission is duty-bound to immediately stop,” it continued.

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